maddoc
... likes film again.
It works 100% if your grey-card is roughly of the same size as your subject (for example a portrait) and lit by the same light at the same angle.... 
				
			Just a few words: that kind of reading (reflected) only works sometimes...
The light you read that way, depends of the kind and harshness of that light, and also on the angle of incidence on the card or skin. Payasam is right about it works sometimes, and Roger is right about it doesn't work sometimes.
Cheers,
Juan